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Fast Logbook Loans in Upper Elmers End

Enquire Online Today! - 23 Sep 2020

logbook loans Upper Elmers End

Logbook Loans Upper Elmers End


If you need quick cash then Upper Elmers End logbook loans are for you

Upper Elmers End logbook loan quotes

If you still need to drive your car, but need access to same day money then you could borrow up to £50,000.. They’re fast too... if your car is free from finance your loan could be arranged and delivered the same day!

As one of the fastest growing ways to secure a loan, Upper Elmers End Logbook Loans don’t require credit checks or hoops to jump through. If your previous loan applications have been unsuccessful then this might be able to provide you with the funds you need.

Furthermore any money borrowed can be spent however you like, on whatever you like... a Logbook Loan provides complete flexibility over you money, so you can spend it on anything you like from clearing debts to foreign holidays!

No obligation necessary: There isn’t ever any pressure to take out a loan, so get yourself an obligation-free logbook loan quote today!

Hassle-free loans: Frustrated at being turned down for loans before? Your credit history might not even be an issue with a Logbook Loan application.

Use your car: You can carry on driving your car whilst borrowing money against it’s value with a Logbook Loan!

Apply online in 60secs: It only takes a minute of your time to complete the simple form on this page with a few details.

Loans for any purpose: Paying off debts? Holiday? Cashflow? No matter what your reason for wanting to loan, you have complete control over your money.

Loans that suit you: Get in touch with a specialist that can arrange your loan to suit your requirements. All lending requirements differ from person to person.

Using our website to apply for Upper Elmers End Logbook Loans couldn’t be more simple too, our online quote application form only takes 60secs to complete and that’s all you need to do, you will then hear from a loan provider direct to discuss your application further.

Apply online today to discover just how much you could borrow against your car with Upper Elmers End Logbook Loans.

logbook loans for older cars

Do Older Cars Qualify For Logbook Loans?

Yes! Well with us they do... though that’s not always the case with other Upper Elmers End V5 lenders. Many other Bromley companies will limit the age of an eligible vehicle to just 8 years whereas our lenders base the loans on the value of your car, so age isn’t as important. That means if you drive an older car then you could still borrow against it, and with loan amounts of £400 up to £50,000 there is every chance your vehicle will qualify. Enter your registration to find out today.

loans against classic, vintage and prestige cars in Upper Elmers End

What About My Classic, Vintage or Prestigious Car?

Your vehicle is the basis for a V5 loan, so the current market value dictates the amount you can borrow. For that reason all makes and models are considered eligible, so if you are in Upper Elmers End and own a classic, vintage or even a prestige car such as a Rolls-Royce, Bentley, Aston Martin or Mercedes then your vehicle may be eligible to be borrowed against. Simply enquire online to find out.

no credit check Upper Elmers End logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Bromley

Self-Employed? You Could Still Borrow

Most Bromley lenders want proof of regular income which makes it very difficult for the self-employed in Upper Elmers End to get a loan of any type. A loan against your car uses your vehicle as security against the loan which reduces the risk to the lender, meaning you may still be eligible if you work for yourself. You will still be required to prove that you can afford the monthly repayments as part of responsible lending requirements. If you’re self-employed apply today!

Upper Elmers End business v5 loans

What About Companies?

Upper Elmers End business logbook loans aren’t as popular as personal loans, but some lenders can and will provide them under certain circumstances. To protect their interests and reduce risk, these lenders will require the car to be registered in the enquirer’s name, even if it is used as a company vehicle. A few lenders may allow people to borrow against a car that is registered under the company name, as long as the enquirer and the company both share the same names. Ask your lender about its policies if you are interested.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

Value of Car % Loan Loan Total
£500 80% £400
£1000 80% £800
£1500 80% £1200
£2000 80% £1600
£5000 80% £4000
£10000 80% £8000
£20000 80% £16000

Calculate Your Loan

Using our online calculator is easy. Use the sliders to see how much you could borrow, then complete the form above.

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Upper Elmers End applicants.

How do Upper Elmers End Logbook Loans work?

The way Bromley loans against cars work is you use your car as security for getting a loan. The only thing you need to hand over is the logbook (also known as V5 document) of your vehicle. The logbook is held by the lender as collateral, and you get to keep and use your vehicle throughout the agreement. The document is then returned to you when you finish repaying the loan. Loans are available throughout Bromley and are increasing in popularity with those with bad credit.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Bromley address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Bromley logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Upper Elmers End. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can unemployed Upper Elmers End residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Bromley V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

What about Bromley residents with poor credit scores?

If you have a poor credit score and you need to borrow, a loan secured against your vehicle might well be a solution. The logbook loan procedure is usually very straightforward, and you can often get the money on the same day. Although you will still have to undergo a credit check, due to the security of your car as collateral you may find it easier to be accepted. When taking out the loan against your vehicle, your Bromley loan lender will need you to hand over the vehicle’s V5 document or logbook, alongside some other requirements like Upper Elmers End billing address, proof of identification, MOT certificate and proof of income.

What if I can’t prove my income?

Those who are self employed or have little/poor credit history in Bromley can benefit from the V5 loans; they simply need to prove that they are able to make the repayments. As part of responsible lending, it’s important for Upper Elmers End V5 loan applicants to prove that they have the ability to make timely repayments so as to avoid losing possession of their car. Since different people have different situations, it is important to get in contact to discuss your particular needs.

Who is responsible for car maintenance?

Most logbook lenders will ask that you maintain your car so that the value remains the same (or close to the same) throughout the duration of the loan period. This maintenance includes regular servicing, MOT checks, and automobile insurance, among other things. You will need to notify your lender if anything reduces the value of your car significantly, including damage or mechanical problems. However, your lender will expect some additional mileage and the usual wear and tear throughout the loan term.

Are Logbook Loans visible on a HPI check?

A HPI check should clearly show a loan present as a ’Bill of Sale Agreement’. A rule was introduced that requires all Bromley lenders to register any active loans against a vehicle with companies such as HPI. If for any reason you find that there is an existing loan against your vehicle which was not visible on a HPI search then under the HPI guarantee you are entitled to a reimbursement of up to £30,000.

What is the repayment duration?

Your loan can be arranged with either a 12, 18 or 36 month duration and since there are no penalties for early repayment you can save money on interest payments by settling the account early.

If there are any other questions you would like answered then use the form above to get in touch direct to an advisor. They’ll help answer any queries you have and determine whether a V5 loan is the right solution for you.